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Standard Chartered is likely to be fined over failings in its processes to combat money launderingAlex Ogle/AFP/Getty Images

Harry Wilson

Published at 12:01AM, August 8 2014

Standard Chartered has moved to distance itself from criticism by one of its most senior executives after he attacked regulators for treating the bank like a “criminal” over lapses in its anti-money laundering systems.

Jaspal Bindra, the head of Standard Chartered in Asia, said that the bank was being unfairly punished for its failings a day after the lender revealed that it was likely to be fined over problems in its computer systems that meant illicit transactions could still be processed.

“We are supposed to police that our counterparties and clients are not money laundering, and if when we are